LPL Financial LLC Increases Position in Coterra Energy Inc. (NYSE:CTRA)

LPL Financial LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 63.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,401 shares of the company's stock after acquiring an additional 258,114 shares during the quarter. LPL Financial LLC owned about 0.09% of Coterra Energy worth $16,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new position in Coterra Energy during the fourth quarter valued at approximately $18,841,000. Mizuho Securities USA LLC grew its stake in Coterra Energy by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 69,814 shares of the company's stock worth $1,783,000 after buying an additional 21,876 shares in the last quarter. Beddow Capital Management Inc. raised its position in shares of Coterra Energy by 2.0% during the 4th quarter. Beddow Capital Management Inc. now owns 253,239 shares of the company's stock valued at $6,468,000 after buying an additional 5,073 shares in the last quarter. Vinva Investment Management Ltd bought a new stake in shares of Coterra Energy during the 4th quarter worth $454,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Coterra Energy during the fourth quarter valued at about $46,000. Institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CTRA shares. UBS Group boosted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Barclays raised their target price on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a report on Wednesday, March 5th. Jefferies Financial Group raised their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, February 4th. Finally, Piper Sandler boosted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of "Moderate Buy" and an average target price of $34.35.

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Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Coterra Energy Stock Down 8.3 %

CTRA traded down $2.27 during midday trading on Friday, reaching $25.09. The company's stock had a trading volume of 19,106,288 shares, compared to its average volume of 6,150,893. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock's 50-day moving average is $27.78 and its 200-day moving average is $26.23. The firm has a market capitalization of $19.17 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.59 and a beta of 0.47. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.22 dividend. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Thursday, March 13th. Coterra Energy's dividend payout ratio is currently 58.28%.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.